You give it your all and the results are not what you anticipated. Internet marketing solutions ROI (Return on Investment), like most other venues in marketing, is not an exact science. How can you improve your ROI without adding expenses to your marketing budget? How do you present results of social media, banner ads, email marketing?
Actually, there are measurable techniques that you can implement that will assist you with increasing internet marketing ROI. Your company's owner wants to know the bottom line - not all the methods and minutia on how you get sales. Just give them the facts. Here are six metrics or methods of measurement and evaluation that you can use to justify your marketing approach and your position in the company.
1.Customer Acquisition Cost
Customer Acquisition Cost or CAC is the big one. It is the total cost your company pays, on average, to acquire a new customer. Your goal is to keep this number low to increase your ROI.
2. Marketing % of Customer Acquisitions Cost
Marketing % of Customer Acquisitions Cost is the amount of money spent on marketing to acquire new customers. This metric is a direct reflection on your performance and your team's performance.
3. Ratio of Customer Lifetime Value to CAC (LTV:CAC
Ration of Customer Lifetime Value to CAC or LTV:CAC measures how much revenue your company derives from each customer in comparison to money spent on acquiring the customer. The higher the LTV:CAC ratio, the better for you, the marketers questions, unless it is exorbitantly high and that means you need to adjust your marketing approach to allow for company growth.
4. Time to Payback CAC
Time to Payback CAC measures the number of months it takes your company to earn back the money spent to acquire a new customer (CAC). As a marketer, you want this number to be as small as possible but definitely aim for less than one year
5. Marketing Originated Customer %
The Marketing Originated Customer % is the number of customers directly acquired from your marketing efforts. In internet marketing, this number would most likely be measured by the number of sales conversions leads generated online.
6. Marketing Influenced Customer %
Marketing Influenced Customer % measures the number of new customers acquired from leads that the marketing team followed up with. This can be measured by follow-up emails or phone calls or other methods.
Get More Info On How to Increase Internet Marketing ROI With These 6 Marketing Metrics
Using these 6 marketing metrics will impress your administrators and impress upon them your value as a key team member. Determining internet marketing ROI can be a daunting task but keeping it simple and concrete with these 6 metrics will streamline your analysis and enable you to increase the ROI by giving you the data needed to improve your marketing campaigns.
To implement these valuable 6 metrics, you need the formulas for computing the numbers. You can find these and more valuable techniques in The 6 Marketing Metrics Your Boss Actually Cares About - a free e-book, available by clicking the ad below this article.